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Mugaaz
RealPoor Guru
Joined: 16 Oct 2002
Posts: 3576
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 Posted: 06/15/05 - 06:26 Post subject: f**k Wells Fargo and f**k their policies.
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I've never been this f*****g p****d. Long story short I ended up damaging my pinky pretty bad and having to go to the ER, which resulted in my getting a nice 650 dollar bill, then I was also unexpectedly hit for 350 dollars in car repairs, and 500 for car insurance. I had to remove 1500 from my poker bankroll in order to pay these off resulting in me not being able to play my regular stakes and make the $27/hr I'm acustomed to. So I withdraw this money to pay for the bills and withdraw another 400 from the company I store my winnings at to pay for misc expenses (food gas etc) until I get my next paycheck.
Lo and behold I look at my account today and it's at over -$500 dollars, I'm like HOLY SHIT!? WHAT HAPPENED? I never carry cash and use my check card to pay for everything. So I usually eat out 2+ times per day needed to get gas and new tags for my car. Their payment system held all of these in pending status until the checks I had written for the bills I had paid cleared. What the hell? Know what happens now? Their system then sets it up for all the largest transactions to be paid first. So of the various big check items get paid, then it applies each seperate ones in order of it's cost, not the date it was purchased.
What does this mean? I accidently went over on my account for $43! My automatic bill pay for my cable bill, which happened to go through before that $400 dollars I deposited. Just so we're clear where we are, I accidently went over $43 becuase there was $7 left and I had the $50 bill set to autopayment.
What happened? Since I have tons transactions in the $4-$12 range these were paid off last, and this resulted in me being cited for an overdraft 27, YES TWENTY-SEVEN TIMES! EACH OVERDRAFT FEE IS $33 f*****g DOLLARS.
LET ME GET THIS STRAIGHT? They are giving me a 3 day long loan for $43 dollars, so I guess this is worth about 1500% in interest ? I call them up about it and the f*****g supervisor says "As a service to you I can remove 2 of the overdraft fees" TWO? Thanks b***h!
This has single-handedly ruined my life for the next 4+ months. I don't have enough from my paychecks to pay all my bills and deposit anything meaningful into my poker accounts to have a bankroll big enough to make a reasonable amount of money. Just a month ago I was looking forward to being able to switch to part time in July becuase at the next level of play I could of made $35-40/hr, and been able to have an awesome summer working for myself during my own hours.
Now I get to keep working full time for another 4 months and spend every day and hour off ,working my small bankroll back up to where it was supposed to be. f**k Wells Fargo. I'm going over there tommorow and closing out my account. f**k them and their parasitic company.
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Zab
Sir Postalot
Joined: 07 Mar 2003
Posts: 1222
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Posted: 06/15/05 - 06:31 Post subject:
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say it with me " emergency savings account " throw any assorted amount ( i do 100 bucks a month ) into here each month and it is your emergency money for whenever shit like this happens. plan ahead.
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Mugaaz
RealPoor Guru
Joined: 16 Oct 2002
Posts: 3576
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Posted: 06/15/05 - 06:39 Post subject:
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| Zab wrote: | | say it with me " emergency savings account " throw any assorted amount ( i do 100 bucks a month ) into here each month and it is your emergency money for whenever shit like this happens. plan ahead. |
Hello, I had 2000 stashed away. Read for content.
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Zab
Sir Postalot
Joined: 07 Mar 2003
Posts: 1222
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Posted: 06/15/05 - 06:46 Post subject:
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| Mugaaz wrote: | | Zab wrote: | | say it with me " emergency savings account " throw any assorted amount ( i do 100 bucks a month ) into here each month and it is your emergency money for whenever shit like this happens. plan ahead. |
Hello, I had 2000 stashed away. Read for content. |
yes but you are also b******g about that being your poker fund. all i see is you b******g because you had to go into your poker fund, not your emergency stash. And reading your statement poker is your main cash cow so you b***h yet again about not being able to play your regular stakes and make the 27/hr you are acustomed to.
so in essence you are whining and crying because you did not plan ahead and you have single-handedly ruined your life for the next 4+ months. And now you cant switch to part time in july because your bankroll isnt big enough.
boo-f*****g-hoo
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Celestra
RealPoor Master of Posts
Joined: 11 Oct 2002
Posts: 6929
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Posted: 06/15/05 - 06:47 Post subject:
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That's pretty ridiculous.
Does the superviser have a superviser?
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principessa
RealPoor Guru
Joined: 11 Oct 2002
Posts: 3149
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Posted: 06/15/05 - 06:57 Post subject:
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Did they explain to you that that was how the transactions are credited and debited to your account?
Normally, when one uses a credit card (unsure about debit from a merchant perspective) when you receive an authorization number (as a merchant) the card company automatically "freezes" that amount of money from your credit line. That means that even if they have yet to do their electronic capture (daily submission of charges), your card company still considers that money deducted from your credit line. I know this because people used to ask me to "check" their credit card balance by running their charge through to see if it would be accepted in full. In order to do that, I had to run the transaction and get an authorization number. Sometimes, the transaction was not accepted in full (the charge would put them over their credit limit) and they would ask me to cancel the transaction and just pay cash. The next day, I'd get that person coming in saying, hey, didn't you cancel that transaction? I went to the store and my card was declined, blah blah...I checked with the card company, and they explained the above thing about "freezing" the money to me.
Debit cards may be automatic, but I still know from watching my electronic statements(as a consumer, not a merchant), that the same thing must go on. Until the company submits their capture, your account doesn't reflect the amount you spent. Your balance, however, will generally show a balance and then an "available" balance.
Your story about Wells is interesting..gonna dig out that fine print brochure that my bank sent with my debit card and read it...
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khrath
Guest
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Posted: 06/15/05 - 07:16 Post subject:
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dude seriously, call your bank back, explain to them that there is no possible way you can pay all of that, because you are a poor college student who has to work a part time job just to be able to afford food.
If they won't help you, tell them that since they won't help you, that you have no other choice but to change banks so that you will be able to eat, since any money you deposite into theirr bank for the next couple months will be just to pay off their charges.
I did that to bank of america and they took off all of mine and appologized for any inconvenience that it may have caused.
Banks don't have to leave those on, they have the option to delete them all, and obviously your situation was caused by a bunch of small amount transactions, so if you go high enough in the food chain, you will get them removed.
If the manager over that section says he/she wont help you, then ask him for his managers contact information. if he won't tell you, say some smartass shit like, "are you refusing to give me any information about your manager? if he says yes, say "ok, i'll find it myself and call him, then i'll call his boss, and his bosses boss, until I find someone who can help me, since you're refusing to"
People in corporate america generally hate it when you go over their head, and it also scares them beecause they now have to explain it all to their boss after you get off the phone.
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Mugaaz
RealPoor Guru
Joined: 16 Oct 2002
Posts: 3576
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Posted: 06/15/05 - 07:21 Post subject:
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| khrath wrote: | dude seriously, call your bank back, explain to them that there is no possible way you can pay all of that, because you are a poor college student who has to work a part time job just to be able to afford food.
If they won't help you, tell them that since they won't help you, that you have no other choice but to change banks so that you will be able to eat, since any money you deposite into theirr bank for the next couple months will be just to pay off their charges.
I did that to bank of america and they took off all of mine and appologized for any inconvenience that it may have caused.
Banks don't have to leave those on, they have the option to delete them all, and obviously your situation was caused by a bunch of small amount transactions, so if you go high enough in the food chain, you will get them removed.
If the manager over that section says he/she wont help you, then ask him for his managers contact information. if he won't tell you, say some smartass shit like, "are you refusing to give me any information about your manager? if he says yes, say "ok, i'll find it myself and call him, then i'll call his boss, and his bosses boss, until I find someone who can help me, since you're refusing to"
People in corporate america generally hate it when you go over their head, and it also scares them beecause they now have to explain it all to their boss after you get off the phone. |
The phone # is a dead end. I'm going to speak to the manager of the local branch here, and if he won't help I'll close out the account and just use Neteller as my bank.
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Celestra
RealPoor Master of Posts
Joined: 11 Oct 2002
Posts: 6929
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Posted: 06/15/05 - 07:27 Post subject:
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I would kick up a storm over it. There's no reason you have to pay so much money for basically a 3 day deficit till your 400$ deposit arrived. It's just 'money' they're making out of thin air. They can make it disappear if you get annoying enough.
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Lumberg_fekdher
RealPoor Sensei
Joined: 26 Aug 2003
Posts: 1923
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Posted: 06/15/05 - 09:25 Post subject:
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Plat4PoP
RealPoor Jedi
Joined: 12 Oct 2002
Posts: 14376
Location: USA
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Posted: 06/15/05 - 10:18 Post subject:
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Never use Wells Fargo, they once put a hold on my paycheck and gave me a bunch of bounces. I had been getting direct deposit for almost 2 years from the same company before they decided to put a hold on it for no reason. Closed my account and never looked back.
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Breniar
Rookie
Joined: 11 Oct 2002
Posts: 60
Location: Austin
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Posted: 06/15/05 - 10:23 Post subject:
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Same thing happened tome at my credit union. They held all credit/debit transaction over the weekend till Monday. Banks suck. Good luck with the new one.
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motherface
RealPoor Guru
Joined: 12 Mar 2003
Posts: 3407
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Posted: 06/15/05 - 11:02 Post subject:
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If you're making $27/hour gambling, why would you work fulltime as well?
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Mugaaz
RealPoor Guru
Joined: 16 Oct 2002
Posts: 3576
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Posted: 06/15/05 - 11:10 Post subject:
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| motherface wrote: | | If you're making $27/hour gambling, why would you work fulltime as well? |
I figured I needed more saved up just in case. Looks like I was right on the money.
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motherface
RealPoor Guru
Joined: 12 Mar 2003
Posts: 3407
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Posted: 06/15/05 - 11:21 Post subject:
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As much as I hate credit cards and finance charges, this kind of situation makes the case for a credit card with a large line of credit, or maybe an Amex card. I'm growing warier of using my debit card for things lately. When you use the debit card, it's your money that's moving. With a charge/credit card, it's the bank's money. And while the bank will normally reimburse you for fraud, good luck telling the bank that they're the ones defrauding you.
As for overdraft, I had my bank add a $500 line of credit to my checking account, so if I go over it just takes the money from there. So going over $5 or whatever doesn't result in a $40 overdraft charge, just finance charges on whatever balance is being carried on the line of credit. It acts like a cushion and came in very handy during college when I would buy a $2 bottle of shampoo or whatever with only $0.50 in my checking.
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Galdaria
RealPoor Master of Posts
Joined: 06 Apr 2004
Posts: 5641
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Posted: 06/15/05 - 11:46 Post subject:
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Just go in wearing a nice outfit and speak with your branch manager. Problem will be solved immediately.
Be sure to call first and make an appointment.
People at those 800 numbers arent authorized to do shit and dont care one way or the other about your satisfaction. Your branch manager is another story.
I promise you if you do what I say, and speak with him/her rationally it will be handled.
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Manuva
Banned
Joined: 12 Oct 2002
Posts: 2536
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Posted: 06/15/05 - 11:51 Post subject:
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I can vouch for what Galdaria said.
The same shit happened to me once Mug, I fought with tellers and reps over the phone for two days and just said fuckit, went down to the bank, sat down with the branch manager and explained to him what happened and exactly why I wasn't going to put another cent into their system until those charges were removed.
He had them gone in 10 minutes.
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Plat4PoP
RealPoor Jedi
Joined: 12 Oct 2002
Posts: 14376
Location: USA
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Posted: 06/15/05 - 13:09 Post subject:
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| motherface wrote: | As much as I hate credit cards and finance charges, this kind of situation makes the case for a credit card with a large line of credit, or maybe an Amex card. I'm growing warier of using my debit card for things lately. When you use the debit card, it's your money that's moving. With a charge/credit card, it's the bank's money. And while the bank will normally reimburse you for fraud, good luck telling the bank that they're the ones defrauding you.
As for overdraft, I had my bank add a $500 line of credit to my checking account, so if I go over it just takes the money from there. So going over $5 or whatever doesn't result in a $40 overdraft charge, just finance charges on whatever balance is being carried on the line of credit. It acts like a cushion and came in very handy during college when I would buy a $2 bottle of shampoo or whatever with only $0.50 in my checking. |
Carefull, I bet they charge you a fee for using that like most banks do. Bank of America charges $17 each time you use the credit cushion. They say they save you $$ because of the $25 overdraft fee...
p4p
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Lumberg_fekdher
RealPoor Sensei
Joined: 26 Aug 2003
Posts: 1923
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Posted: 06/15/05 - 14:04 Post subject:
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This thread is b******t
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principessa
RealPoor Guru
Joined: 11 Oct 2002
Posts: 3149
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Posted: 06/15/05 - 14:09 Post subject:
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| Plat4PoP wrote: | | motherface wrote: | As much as I hate credit cards and finance charges, this kind of situation makes the case for a credit card with a large line of credit, or maybe an Amex card. I'm growing warier of using my debit card for things lately. When you use the debit card, it's your money that's moving. With a charge/credit card, it's the bank's money. And while the bank will normally reimburse you for fraud, good luck telling the bank that they're the ones defrauding you.
As for overdraft, I had my bank add a $500 line of credit to my checking account, so if I go over it just takes the money from there. So going over $5 or whatever doesn't result in a $40 overdraft charge, just finance charges on whatever balance is being carried on the line of credit. It acts like a cushion and came in very handy during college when I would buy a $2 bottle of shampoo or whatever with only $0.50 in my checking. |
Carefull, I bet they charge you a fee for using that like most banks do. Bank of America charges $17 each time you use the credit cushion. They say they save you $$ because of the $25 overdraft fee...
p4p |
ack!!
I had a credit line on my checking account at Bank of New York for many years, and was always lazy about depositing stuff on a timely basis, so I hit that credit line a few times over the course of a year and they never hit me with a fee:(
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motherface
RealPoor Guru
Joined: 12 Mar 2003
Posts: 3407
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Posted: 06/15/05 - 15:04 Post subject:
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| Plat4PoP wrote: | Carefull, I bet they charge you a fee for using that like most banks do. Bank of America charges $17 each time you use the credit cushion. They say they save you $$ because of the $25 overdraft fee...
p4p |
Bank of America is my bank (formerly Fleet) and they do not charge anything for dipping into the line of credit. That may change I guess as the merger gets more complete.
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Silvermouse
RealPoor Jedi
Joined: 12 Oct 2002
Posts: 11015
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Posted: 06/15/05 - 15:08 Post subject:
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| Mugaaz wrote: | | Zab wrote: | | say it with me " emergency savings account " throw any assorted amount ( i do 100 bucks a month ) into here each month and it is your emergency money for whenever shit like this happens. plan ahead. |
Hello, I had 2000 stashed away. Read for content. |
Apparantly you needed 2043. I know your pain, though. I once went over on a 20 dollar atm withdrawal and they gave me a fee for the 20 dollars and the 1.50 the atm charged me.
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themy
Sir Postalot
Joined: 14 Oct 2002
Posts: 1153
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Posted: 06/15/05 - 15:11 Post subject:
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one word, "arbitration"
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Ecstacie
Luke Warm
Joined: 06 Jul 2004
Posts: 156
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Posted: 06/15/05 - 17:20 Post subject:
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| Galdaria wrote: | Just go in wearing a nice outfit and speak with your branch manager. Problem will be solved immediately.
Be sure to call first and make an appointment.
People at those 800 numbers arent authorized to do shit and dont care one way or the other about your satisfaction. Your branch manager is another story.
I promise you if you do what I say, and speak with him/her rationally it will be handled. |
People are much more likely to respond in person than over the phone. Do exactly this, and if they still wont take off the charges, tell them you are switching banks and leave. Similar thing happened to me, except it only amounted to about $150 or so, but I did this, and they said they would cut the charge in half but that was it. Well that wasnt good enough so I said fine, close my account, and walked out. The manager came out of the bank as I was getting into my car and said they'd clear it, but if it happened again they would not be able to.
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Nandaben
Rookie
Joined: 13 Dec 2002
Posts: 58
Location: Los Angeles, CA
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Posted: 06/15/05 - 21:36 Post subject:
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Hello Mr Reg. CC client LOL. 
Also make sure to pay what u owe our your ass is on Chexsystems and you won't be able to open an account in any banking institution.
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Nahualli
RealPoor Master of Posts
Joined: 11 Oct 2002
Posts: 8461
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Posted: 06/15/05 - 22:17 Post subject:
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posted in wrong thread 
-Nah-
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Nahualli
RealPoor Master of Posts
Joined: 11 Oct 2002
Posts: 8461
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Posted: 06/15/05 - 22:21 Post subject:
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Mug I hate to say it, but it's not just Wells. Every bank I know of processes their debits this way. This and interest is how they make their money. Also, why would the bank go after a 2.50 charge when there's a pending 400 out there that may or may not make it through? I'm not defending them or anything because I don't like it either, but from a banker perspective, this is the only logical way to handle it.
Also.. why do you mail checks? There are several reasons to use online banking, saving on stamps is probably the absolute smallest of them.
-Nah-
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Nuldaan
Sir Postalot
Joined: 07 Nov 2002
Posts: 1179
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Posted: 06/16/05 - 05:29 Post subject:
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To back up what Nah said, every bank processes transactions like this. You can get them all removed fairly easily though. I found myself in the same situation a couple months ago although not as severe (only 16 OD charges, joy :/). I got it taken care of on the phone...with Wells Fargo no less. You might have just gotten a bad customer service rep.
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